By Robert Romano A group of 19 Republican Attorneys General led by Arizona Attorney General Mark Brnovich and Nebraska Attorney General Doug Peterson have threatened the $10 trillion hedge fund BlackRock with antitrust legal action in an Aug. 4 letter to BlackRock CEO Larry Fink accusing the company of “intentionally restrain[ing] and harm[ing] the competitiveness of the […]

By Robert Romano Today, the U.S. unemployment rate ticked down to a 50-year low of 3.5 percent as 179,000 more Americans were employed in the Bureau of Labor Statistics’ household survey. After today, there will only be three more unemployment reports before the Nov. 8 Congressional midterms : Sept. 2, Oct. 7 and Nov. 4. President Joe Biden — who said the day […]

By Robert Romano Job openings have crashed by more than 1.1 million since March to about 10.7 million, appearing to signal an imminent uptick in the unemployment rate over the coming months and perhaps years depending on the severity of the current recession, an analysis of Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover (JOLT) survey and household survey data showing an inverse relationship […]

By Robert Romano President Joe Biden’s legislative agenda has sprung back to life amid consideration of Senate Democrats’ budget reconciliation bill for 2022 that will contain $369 billion of green subsides for solar, wind and electric vehicles , and another $25 billion of additional taxes on the fossil fuel industry , all in a bid to reduce carbon emissions by 40 percent by 2030. The goal is to reduce […]

By Robert Romano In President Joe Biden’s so-called Inflation Reduction Act, there are $288 billion of price controls for the Medicare Part D prescriptions drug benefit that are intended in part to offset the cost of $369 billion of green energy subsidies and a $69 billion Obamacare extension. The goal of the price controls is to lower the price Medicare […]

By Robert Romano “That doesn’t sound like a recession to me.” That was President Joe Biden on July 28, right before he rushed away from reporters who likely had questions about the 0.9 percent contraction annualized of the Gross Domestic Product (GDP) in the second quarter reported by the Bureau of […]

By Robert Romano The U.S. economy contracted another 0.9 percent in the second quarter of 2022, following a 1.6 percent decline in the first quarter and thus marking the second consecutive quarter of negative growth — usually thought to signal a recession — according to the latest data by the Bureau of Economic Analysis (BEA) . But wait, says […]

By Robert Romano President Joe Biden wants to have it both ways. Before the Congressional midterms, Biden wants to continue to depend on relatively strong labor markets data published by the Department of Labor’s Bureau of Labor Statistics in order to avert suggestions that the U.S. economy […]

By Robert Romano Don’t look now, but the race for Congress in 2022 appears to be tightening, judging by the generic Congressional ballot. In the latest Emerson poll , which Republicans have led all year long, the GOP has just a 1-point edge now, 45 percent to 44 percent, amid a […]

By Robert Romano Unemployment insurance continuing claims increased by 122,000 on a non-seasonally adjusted basis from July 2 to July 9 to 1.45 million, the latest U.S. Department of Labor data shows , as multiple historical recession signals are flashing red. The number comes as initial unemployment claims have continued ticking upward on both on […]

By Robert Romano “The President made clear that if the Senate doesn’t act to tackle the climate crisis and strengthen our domestic clean energy industry, he will. We are considering all options and no decision has been made.” That was the text of an email by a White House official confirming that […]

By Robert Romano “It is very hard to conclude that we are in a recession when you look at the payroll and the job gains that we’ve seen now, it is tricky to look around the corner here, and I’m not going to predict quarters down the […]

By Robert Romano Currently, more than 260,000 servicemen and women in the U.S. military are only partially vaccinated — that is, they have only received one vaccine shot against Covid instead of two — and are now facing separations and discharges. In February, Secretary of the Army Christine Wormuth laid out the separations policy, declaring , “Army readiness depends […]

By Robert Romano A discharge petition led by U.S. Rep. Paul Gosar (R-Ariz.) for H. J. Res. 46 that would end the national emergency declaration began by former President Donald Trump on March 13, 2020 has reached 111 signatures as of July 15, according the Office of the Clerk of the U.S. House […]

By Robert Romano Change is in the air. It’s not just the looming November midterms, which under the normalest of circumstances are no affair for the faint of heart for whichever party occupies the White House, and could see Republicans reclaim the House of Representatives for the […]